United States Gasoline Fund (NYSEARCA:UGA) Stock Price Up 2% – Here’s Why

United States Gasoline Fund LP (NYSEARCA:UGA) shares shot up 2% on Monday . The company traded as high as $102.81 and last traded at $102.51. Approximately 14,208 shares were traded during mid-day trading, a decline of 76% from the average session volume of 59,777 shares. The stock had previously closed at $100.52.

United States Gasoline Fund Trading Up 1.2%

The stock’s 50 day simple moving average is $109.75 and its two-hundred day simple moving average is $88.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in United States Gasoline Fund by 45.4% in the first quarter. Royal Bank of Canada now owns 23,738 shares of the company’s stock worth $1,525,000 after acquiring an additional 7,415 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of United States Gasoline Fund by 666.0% during the first quarter. Jane Street Group LLC now owns 38,799 shares of the company’s stock valued at $2,493,000 after acquiring an additional 33,734 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of United States Gasoline Fund by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,894 shares of the company’s stock valued at $114,000 after acquiring an additional 533 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of United States Gasoline Fund by 12.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 14,327 shares of the company’s stock worth $924,000 after purchasing an additional 1,592 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of United States Gasoline Fund by 73.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 239 shares during the last quarter.

About United States Gasoline Fund

United States Gasoline Fund, LP (UGA) is a commodity pool that issues limited partnership interests (shares). The Company is engaged in the trading of futures contracts, options on futures contracts and cleared swaps (derivatives). The investment objective of UGA is for the daily changes in percentage terms of its shares’ per share net asset value to reflect the daily changes in percentage terms of the spot price of gasoline, as measured by the daily changes in the price of the futures contract for gasoline traded on the New York Mercantile Exchange (the NYMEX), that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire, less UGA’s expenses.